Regional Sports Networks Going Bankrupt

I feel like it's not going to end well.

Major League Baseball and the Atlanta Braves formally filed an objection to Diamond Sports Group's reorganization plan Friday, citing, among other things, a lack of information to corroborate the viability of the company's projections.

In a motion filed in Houston bankruptcy court, MLB and the Braves wrote they possess "grave concerns that, if the plan is confirmed, there is a substantial likelihood that the debtors will find themselves once again in financial distress and/or bankruptcy court in the near future."

Later on Friday, the Cincinnati Reds officially split from Diamond, according to another court filing. ...

MLB and the Braves cited a lack of clarity on that deal among their concerns in Friday's objection, writing that Diamond's "refusal to produce information concerning the proposed commercial lynchpin of the go-forward business plan as to [direct-to-consumer] subscribers, a subscriber base that the debtors estimate in the financial projections to grow by hundreds of percentage points between now and the end of 2027, by itself justifies a finding that the debtors cannot meet their feasibility burden."

MLB and the Braves added that Diamond has "consistently failed to produce" information about its new distribution agreements to allow for cross-examination in the linear-cable space and that they should not be "compelled to partner with a business that does not have a realistic roadmap to future operations."​

MLB has 'grave concerns' for Diamond reorg plan

 

Cardinals found their "way" and reached a deal with Fan Duel Sports Network.
Maybe they will be able to pay some of the players now.